Mesh Secures Series B Funding Led by Paradigm, Expands Global Crypto Payments Network

Mesh, a blockchain payments network, has raised an undisclosed amount in its Series B round led by Paradigm, with participation from ConsenSys, QuantumLight, Yolo Investments, Evolution VC, Hike Ventures, Opportuna, and AltaIR Capital. Most of the funding was settled in PayPal's PYUSD stablecoin.

Mesh connects crypto wallets with exchanges and payment service providers, enabling users to pay with digital assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Merchants can settle payments in stablecoins such as USDC, PYUSD, and RLUSD.

"Regulatory clarity is improving, institutions are getting involved, and stablecoins are booming," said Mesh CEO Bam Azizi. "With this capital, we're expanding globally to make crypto payments as seamless as using a credit card."

Stablecoins, a $200 billion market, play a crucial role in digital asset trading, payments, and remittances, especially in developing countries where they offer a faster, cost-effective alternative to traditional banking. The sector's rapid growth has attracted significant VC investment. Felix Hartmann of Hartmann Capital called stablecoins the "big trade in crypto," predicting they will drive the next wave of adoption.

The potential of stablecoins in global finance was underscored by Stripe’s $1.1 billion acquisition of stablecoin platform Bridge last year. As institutional interest rises, Mesh’s expansion positions it at the forefront of blockchain payments, bridging the gap between crypto assets and mainstream finance.